For the quarter ended February 28th, revenue decreased to $15,058,000
from $15,390,000 in the same quarter last year. Net loss attributable to
TSR was $19,000 in the current quarter, as compared with a loss
attributable to TSR of $68,000 in the prior year quarter. Additionally,
net loss per share was $0.01 in the current quarter compared with a loss
of $0.03 in the prior year quarter.

Christopher Hughes, CEO, stated, “Our revenue for the quarter ended
February 28, 2018 decreased $332,000 from the prior year comparable
quarter. This decrease resulted primarily from heavier than usual
furloughing of consultants on billing with customers around the holidays
and other customer budget reduction measures. The overall average number
of consultants on billing with customers decreased from 394 for the
quarter ended February 28, 2017 to 370 for the quarter ended February
28, 2018, while the average number of computer programming consultants
decreased from 328 in the quarter ended February 28, 2017 to 324 in the
current quarter. The 370 consultants on billing for the current quarter
include 46 administrative workers, compared with 66 in the prior year
quarter, which we placed at billing rates substantially lower than those
charged for computer programming consultants. The net loss decreased
from the prior year quarter due to a decrease in selling, general and
administrative expenses of $197,000 compared with the prior year quarter
resulting primarily from the retirement of the former Chairman and other
cost savings.”

Certain statements contained herein, including statements as to the
Company’s plans, future prospects and future cash flow requirements are
forward-looking statements, as defined in the Private Securities
Litigation Reform Act of 1995. Actual results may differ materially from
those set forth in the forward-looking statements due to known and
unknown risks and uncertainties, including but not limited to, the
following: the success of the Company’s plan for internal growth, the
impact of adverse economic conditions on client spending which has a
negative impact on the Company’s business; risks relating to the
competitive nature of the markets for contract computer programming
services; the extent to which market conditions for the Company’s
contract computer programming services will continue to adversely affect
the Company’s business; the concentration of the Company’s business with
certain customers; uncertainty as to the Company’s ability to maintain
its relations with existing customers and expand its business; the
impact of changes in the industry such as the use of vendor management
companies in connection with the consultant procurement process; the
increase in customers moving IT operations offshore and the Company’s
ability to adapt to changing market conditions and other risks and
uncertainties described in the Company’s filings under the Securities
Exchange Act of 1934. The Company is under no obligation to publicly
update or revise forward-looking statements.